NCICX vs. VSCSX
NCICX (New Covenant Income Fund) and VSCSX (Vanguard Short-Term Corporate Bond Index Fund Admiral Shares) are both Short-Term Bond funds. Over the past 10 years, NCICX returned 1.28%/yr vs 2.64%/yr for VSCSX. Their correlation of 0.85 means they have usually moved in the same direction. NCICX charges 0.96%/yr vs 0.06%/yr for VSCSX.
Performance
NCICX vs. VSCSX - Performance Comparison
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Returns By Period
In the year-to-date period, NCICX achieves a -0.48% return, which is significantly lower than VSCSX's 0.84% return. Over the past 10 years, NCICX has underperformed VSCSX with an annualized return of 1.28%, while VSCSX has yielded a comparatively higher 2.64% annualized return.
NCICX
- 1D
- 0.05%
- 1M
- -0.80%
- 6M
- -0.79%
- YTD
- -0.48%
- 1Y
- 1.96%
- 3Y*
- 3.93%
- 5Y*
- -0.03%
- 10Y*
- 1.28%
- ALL TIME*
- 2.94%
VSCSX
- 1D
- 0.05%
- 1M
- -0.09%
- 6M
- 0.47%
- YTD
- 0.84%
- 1Y
- 3.13%
- 3Y*
- 5.51%
- 5Y*
- 2.36%
- 10Y*
- 2.64%
- ALL TIME*
- 2.89%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $0.00 | $0.00 | $0.00 |
NCICX vs. VSCSX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
NCICX New Covenant Income Fund | -0.48% | 7.13% | 2.13% | 5.15% | -11.32% | -2.06% | 5.93% | 7.16% | -0.10% | 2.51% |
VSCSX Vanguard Short-Term Corporate Bond Index Fund Admiral Shares | 0.84% | 6.75% | 5.36% | 6.11% | -5.72% | -0.43% | 5.06% | 6.85% | 0.88% | 2.46% |
Correlation
The correlation between NCICX and VSCSX is 0.91, meaning they have usually moved in the same direction, including during past declines.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.91 |
Correlation (3Y) Balances recent behavior with more history. | 0.90 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.92 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.87 |
Correlation (All Time) Calculated using the full available price history since Nov 19, 2009 | 0.85 |
The correlation between NCICX and VSCSX has been stable across timeframes, ranging from 0.85 to 0.92 - a consistent structural relationship.
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Return for Risk
NCICX vs. VSCSX — Risk / Return Rank
NCICX
VSCSX
NCICX vs. VSCSX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for New Covenant Income Fund (NCICX) and Vanguard Short-Term Corporate Bond Index Fund Admiral Shares (VSCSX). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| NCICX | VSCSX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.10 | ||
| Sortino ratioReturn per unit of downside risk | -1.62 | ||
| Omega ratioGain probability vs. loss probability | 1.17 | 1.40 | -0.23 |
| Calmar ratioReturn relative to maximum drawdown | 1.23 | 2.69 | -1.46 |
| Martin ratioReturn relative to average drawdown | 2.98 | 10.30 | -7.32 |
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Drawdowns
NCICX vs. VSCSX - Drawdown Comparison
The maximum NCICX drawdown since its inception was -21.12%, which is greater than VSCSX's maximum drawdown of -9.36%. Use the drawdown chart below to compare losses from any high point for NCICX and VSCSX.
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Drawdown Indicators
| NCICX | VSCSX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -21.12% | -9.36% | -11.76% |
Max Drawdown (1Y)Largest decline over 1 year | -2.51% | -1.36% | -1.15% |
Max Drawdown (3Y)Largest decline over 3 years | -4.06% | -1.36% | -2.70% |
Max Drawdown (5Y)Largest decline over 5 years | -16.08% | -9.32% | -6.76% |
Max Drawdown (10Y)Largest decline over 10 years | -16.36% | -9.36% | -7.00% |
Current DrawdownCurrent decline from peak | -2.01% | -0.23% | -1.78% |
Average DrawdownAverage peak-to-trough decline | -2.54% | -0.97% | -1.57% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.03% | 0.36% | +0.67% |
Volatility
NCICX vs. VSCSX - Volatility Comparison
New Covenant Income Fund (NCICX) has a higher volatility of 0.81% compared to Vanguard Short-Term Corporate Bond Index Fund Admiral Shares (VSCSX) at 0.51%. This indicates that NCICX's price experiences larger fluctuations and is considered to be riskier than VSCSX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| NCICX | VSCSX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.81% | 0.51% | +0.30% |
Volatility (6M)Calculated over the trailing 6-month period | 2.57% | 1.43% | +1.14% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.22% | 1.79% | +1.43% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.83% | 2.73% | +2.10% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.80% | 2.37% | +1.43% |
NCICX vs. VSCSX - Expense Ratio Comparison
NCICX has a 0.96% expense ratio, which is higher than VSCSX's 0.06% expense ratio.
Dividends
NCICX vs. VSCSX - Dividend Comparison
NCICX's dividend yield for the trailing twelve months is around 3.03%, less than VSCSX's 4.05% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
NCICX New Covenant Income Fund | 3.03% | 3.24% | 3.17% | 2.79% | 1.51% | 1.46% | 3.17% | 2.43% | 2.26% | 1.92% | 1.72% | 1.80% |
VSCSX Vanguard Short-Term Corporate Bond Index Fund Admiral Shares | 4.05% | 4.32% | 4.27% | 3.07% | 1.98% | 1.78% | 2.25% | 2.85% | 2.66% | 2.26% | 1.93% | 2.21% |
Frequently Asked Questions
With a correlation of 0.91, NCICX and VSCSX move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
NCICX has higher volatility (0.81%) compared to VSCSX (0.51%). In terms of maximum drawdown, NCICX dropped -21.12% vs VSCSX's -9.36%.
VSCSX currently has the higher Sharpe Ratio (2.06 vs 0.96), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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